PANews reported on June 27 that OpenRouter, an AI model market platform, announced the completion of a $40 million seed round and a Series A round of financing, with a company valuation of approximately $500 million. This round of financing was led by Andreessen Horowitz and Menlo Ventures, with participation from Sequoia and several well-known industry investors. The funds will be used for product development, the introduction of new model types, and the expansion of enterprise support.

Founded in 2023 by Alex Atallah, co-founder and CTO of OpenSea, and Louis Vichy, OpenRouter provides a unified interface to connect more than 400 large language models (LLMs), helping developers and enterprises simplify multi-model integration. Since its launch, the company has attracted more than 1 million developers to use its API, and annual inference spending has increased from US$10 million in October 2024 to more than US$100 million in May 2025. Customers range from startups to multinational companies, supporting the routing of mission-critical traffic.